Dear Utsav,

I've been in the markets as an investor and trader for over 35 years. Never lost money in aggregate. Of course, you win some and lose some, but aggregate, s a long-term investor in good quality stocks, you can almost never lose.

I believe that you have little control over your gambling instincts and perhaps that IIT tag makes you think you are very good for the markets.

Let me assure you that far smarter people than you or me have lost their shirt in the market, especially when you trade and that too F&O. Fools venture where angels fear to tread.

I believe Tradetron clearly tells you to create an algo, backtest it, paper trade it for months if necessary until you are consistently making profits on a net basis and ONLY THEN go live. In addition, place only money you are willing to lose as your capital and use sound money management controls.

There is a running battle going on between SEBI, which has decided to become the moral judge of people losing money - whereas they should only be monitoring adherence to rules everyone has agreed to follow and other parties.

No matter what you do or say, algos and automation is a megatrend that is not going to stop whether SEBI thinks it is immoral or not. When you enter the trading arena, you are entering crocodile or shark-infested waters and just as in the case of the jungle, you cannot get in unprepared and then complain "Mummy" when you make losses. If you had made a profit, I'm sure you would not be crying like this.

Take this as lesson well learned (I learned mine back in the 1980s when there was no online trading and we learned about what stocks and dividends and ratios were before jumping in, invested on the value-investing basis, and held on for enough time to make money.

For example, 12k invested in 1986 in a pharma company is now worth over 45 crores with ZERO transactions in between ... just buy, lock it up and earn dividends, which itself has crossed 1.3 crores over these years. All your stuff on front-running, etc do not even apply here. So, you CAN make a lot of money if you follow sound investing principles and not get over-confident and jump into trading and that too high-frequency churn.

Now, you can run away like the many people I have seen over 4 major bear markets. Or you can educate yourself further by simply reading free stuff on the Net, tread carefully and try recovering.

Your call. No one is bothered about your complaint and in this big battle between regulators and players, this does not count. There are many like you who have  fallen and this is the price one has to pay when jumping in without learning the ropes and not having ANY control on one's gambling instincts.

Good luck with whatever you have chosen to do.

I can understand your pain but your long writeup does not specify how non-compliance on part of these brokers is tantamount to cheating.    Government has rules .. a lot of rules and most companies fail to comply 100%.  While working on data of the Ministry of Corporate Affairs, I found that inida's top IT compay is registed as a consumer goods manufacturer and retailer.  that was not the only company, there were 1000s of them.  MCA took a big project and spent 100s of crores to cleanup such data.

You did a good job of audit and found some non-compliances, that's all!  there is no evidence or case of cheating.  

Dear Utsav,

You spent 1.2 lakhs on a bundle of courses nd you didn't even learn how to protect your capital - which Warren Buffet says is rule no 1 and that information is FREE !!!

You did not set limits on your losses and believe the guys who lost your money, saying, "just put in some more and we will recover everything".

I've seen this many times in the past 3.5 decades.

Obviously, SEBI will open an inquiry. That means nothing. It proves nothing unless they gather information and arrive at a conclusion about whether there has been a fraud.

The fine print in applications to your broker, TT, etc will have covered all their bases. Since you probably did not read, understand or question those points, you jumped in and now that you have been cleaned out, you find it convenient to blame them.

At the most, it will be some sales person who may have made tall promises and that too verbally. Do you have documentary proof that some fraud was committed according to law? Not your opinion, but according to law. You probably don't and all this will come to nothing.

There is this other person who has said he lost 50 lakhs and with TT's algos has recovered 10 lakhs. At least he owns up to the fact that HE screwed up and not call everyone around a fraud. Contact a lawyer (if you have not already) and show this forum that yu actually have a case, not say SEBI has opened an inquiry, which they are bound to on a complaint and that establishes nothing.

Hello Every one and specifically to Mr Utsav,

I have learnt trading in stocks & F&O since 2019.  Though I understand the basics of some Technicals, like Super Trend, EMAs, STOCH, RSI, Crossovers etc.... When we study those it looks promising and it feels so easy.  I have made huge money with just 25000 Rs and also lost money with 2L of Capital.  Reason, I made money from 25000 & the reason I lost money with heavy capital of more than 2L is the most important thing as a TRADER one needs to learn. 

I dont want to put more information here, let me come to the point Straight away.  I started developing a strategy from Feb 2022 and was able to crack a strategy during end of April 2022, So roughly 3 months.  So from May 2022 till day I am deploying that strategy using Excel sheet and follow the values in the Time frame.  Once I saw that strategy was working, I felt good. SO I started doing a real trade manually, let me honestly tell you, I lost money or rather my balance sheet did not grew.  But even during this manual trade, I did not loose huge money because i had set limits for the loss & I could exit early as possible (since may till today I lost only 50K).  But, I realised later that If I had stayed in that strategy for another some time i could have made huge amount.  This was the time I realised i am failing because of my emotions not my technical study.  THen I realised through my friend, about this Trade Tron.  So quickly prepared this strategy (I struggled initially) but later with the help in Youtube videos posted by TT & attending few webinars of TT I could create the strategy.  Started using the TT since 3 wks, I see a very good confidence about my strategy.  My excel paper strategy has now turned into Algo TT paper trading, with almost +45K in 2wks.  Started the Live Auto Trade already from Today, 26-July-2022. I See for retail traders like us & new comers with some technical background (trading) this Algo trading will overcome the emotional challenge that one has.  Honestly, it has helped me a lot so far.  Will update after my real trade result after couple of months, 

Others, I am looking for some information, How to know if TT is a legal trading partner as per SEBI or NSE?  I was looking for this information and I got this thread from Mr. Utsav. 

Thanks once again,

Koushik Bharadwaj

By Reading your Article , I pre assumed you thought  placing order into the market with apis and algo means or confirm path to guaranteed path to earning huge profit  and it nothing to do with what are to you writing with in the code.  I also no supporter of algo platforms   and i dont not how reliable are they .and I am Amazed that you being an software developer with decent job falls into the trap of market call . any ways . i really want to know in how many instances you faced losses because of the   faculty trading architecture or  technical faults  or gliches. or how many time you face losses because of your dumb (sorry for the harshness) strategy.